GLOSSARY

List of Financial Terms in alphabetical order:

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ZBA See Zero Balance Account.

Zero Balance Account A current account used in cash management to collect funds during a business day with the total amount of the balances on the account being transferred to a central account (often referred to as a sweep account) so that the final daily balance on the account is zero.

Zero-Coupon Bond A bond that pays no interest and is redeemed for its face value at maturity. These bonds are sold at a deep discount from their face value. The return on the bond depends solely on the relationship between the purchase price and the face value. Zero-coupon bonds are considered to be very volatile due to the absence of regular interest payments.

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